EasyETF GSNE is the 21st ETF of the EasyETF range to be quoted on Euronext Paris.
It continuously mirrors the performance of the GSNE index. The GSNE index, a sub-index of the world-class Goldman Sachs Commodity Index -GSCI®- series consists of the non-energy constituents of the GSCI® index. Currently the GSNE index includes 18 commodities from four main non energy sectors: agriculture, livestock, industrial metals and precious metals. This index is calculated in real time and based on precise characteristics such as liquidity and world production in order to determine the percentage of the different components. Launched in 1991, the GSNE® index is considered as a reference on the non energy constituents’ international markets and therefore, is known as the most relevant index on this segment. The quality of the GSNE® Index is a strong foundation and paves the way to making this EasyETF a success.
With historically low correlation with bonds and equities, the non-energy commodity sector offers additional diversification possibilities in portfolio management.
Pioneers of commodity ETFs, AXA Investment Managers (AXA IM) and BNP Paribas are the first issuers of ETFs in Europe in terms of AUM and products range. The EasyETF range of commodity products represented USD $ 1 billion at the end of May 2006. EasyETF GSNE was first quoted on the German and Italian stock-exchanges, and its AUM reached USD $ 150 million four months after its first quotation. This product aims at enriching a range which should be increased within the following weeks.
“A new fund will be available from September. Emboldened by this success, we now aim to offer investors innovative solutions that respond to their changing needs. We also wish to reinforce our leading position on niche products – non energy commodities and real estate” say Marie-Pierre Ravoteur and Danièle Tohmé-Adet, co-managers of EasyETF business development.
"This new product, our 119th, continues the diversification of Euronext's NextTrack market segment, for the first time allowing investors to take positions on the highly active commodities sector yet avoid exposure to energy," notes Thibaud de Cherisey, Head of Trackers/ETFs, Euronext.
